DEX · JUP
Jupiter is a vertically integrated trading ecosystem on Solana spanning swap aggregation, perpetuals, lending, stablecoins, and launchpads. It groups governance, liquidity, dollar, and staking products under one umbrella issuer.
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JUP price
$0.2083
+5.8% 24h
Latest data · 15 min delay
Jupiter is a vertically integrated trading ecosystem (aggregator, perps, lend, stablecoin, launchpad), not a single credit product.
DEX aggregator and smart order router for spot swaps across Solana liquidity venues with low slippage routing.
On-chain perpetuals exchange where traders borrow from the JLP pool; LPs take the house side of trader PnL.
Secured lending desk built with Fluid: up to 95% LTV on some assets, JLP vaults at 83% LTV, with Earn vaults for yield-bearing dollars.
Reserve-backed Solana stablecoin (~90% USDtb / BlackRock BUIDL-backed + 10% USDC buffer) built with Ethena; non-yielding for compliance.
Token launchpad for new Solana projects within the Jupiter ecosystem.
On-chain prediction markets product within the Jupiter stack.
How Jupiter maps onto established TradFi structures, and where it diverges.
Smart order router / brokerage
Jupiter
Jupiter Aggregator routes orders across venues for best execution, similar to a smart order router at a retail brokerage.
TradFi analogue
Fully on-chain, non-custodial, and composable across Solana DeFi liquidity pools rather than regulated broker-dealer inventory.
Market-maker / hedge-fund LP share
Jupiter
JLP LPs are the house: they earn fees but lose when traders win, akin to a prop desk or MM taking the other side of flow.
TradFi analogue
Transparent on-chain basket, tradeable token, and auto-compounded perp fees rather than opaque fund NAV.
Tokenized money-market-backed dollar
Jupiter
JupUSD is a reserve-backed dollar with Treasury/MM exposure via USDtb, similar to tokenized money-market fund shares.
TradFi analogue
SPL token on Solana, no native yield on JupUSD itself (compliance); yield is opt-in via jlJupUSD in Lend Earn.
Secured lending desk
Jupiter
Jupiter Lend offers collateralized borrowing and Earn vaults, similar to a prime brokerage secured lending book.
TradFi analogue
Permissionless on-chain LTV parameters, JLP vault integration, and Fluid-powered risk engine rather than bilateral bank credit lines.
Jupiter (Meow team)
Core development Core dev team behind the aggregator, perps, lend, stablecoin, and launchpad products. Founded by Meow.
Jupiter DAO (Jupiter United Planet)
Governance Community governance via JUP tokenholders. Active community members are known as Space Catdets.
Product stewards
External partners External partner stewards per product line: Ethena for JupUSD tech, Fluid for Jupiter Lend engine, Anchorage Digital and Porto for custody.
Key milestones: launches, upgrades, exploits and governance events.
JUP genesis launch + first Jupuary airdrop
ExecutedJupiter launches the JUP token with its inaugural community 'Jupuary' airdrop.
SourceJUP buyback program
ExecutedJupiter commits 50% of protocol fees to JUP buybacks held in the Litterbox Trust.
SourceJupUSD launches (built with Ethena)
StatedJupiter introduces JupUSD, a reserve-backed Solana dollar (≈90% USDtb + USDC buffer).
SourceNo. Per founder Meow (AMA), JUP is for DAO governance only. Supply is capped at 10B with 50% allocated to the community.
JupUSD is the plain reserve-backed dollar (no native yield). Deposit JupUSD into Jupiter Lend Earn to receive jlJupUSD, which earns interest and incentives while staying liquid as collateral.
JLP is a tradeable index of SOL, ETH, BTC, and stables (~35% stable / 65% volatile). Its value reflects the basket, trader PnL, and 75% of perp fees auto-compounded into the pool.
Jupiter Lend uses Fluid as the lending engine. JupUSD is built with Ethena Labs infrastructure; reserves include BlackRock BUIDL-backed USDtb with custody via Anchorage Digital and Porto.
Max supply
Buyback policy
50% of protocol fees buy back JUP into the Litterbox Trust (3-year lock).
Distribution
